Zacks: Analysts Anticipate Cimarex Energy Co (XEC) to Post $0.95 EPS
Brokerages expect that Cimarex Energy Co (NYSE:XEC) will announce earnings per share (EPS) of $0.95 for the current quarter, according to Zacks. Twenty Five analysts have made estimates for Cimarex Energy’s earnings, with the highest EPS estimate coming in at $1.25 and the lowest estimate coming in at $0.79. Cimarex Energy reported earnings of $0.41 per share in the same quarter last year, which suggests a positive year over year growth rate of 131.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Cimarex Energy will report full-year earnings of $4.17 per share for the current financial year, with EPS estimates ranging from $3.76 to $4.60. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.31 per share, with EPS estimates ranging from $2.60 to $8.38. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Cimarex Energy.
Cimarex Energy (NYSE:XEC) last released its earnings results on Tuesday, August 8th. The oil and gas producer reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The company had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $441.52 million. Cimarex Energy had a return on equity of 16.96% and a net margin of 21.31%. The business’s revenue was up 52.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS.
A number of research firms have issued reports on XEC. Scotiabank set a $143.00 target price on Cimarex Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Jefferies Group LLC set a $98.00 target price on Cimarex Energy and gave the company a “hold” rating in a report on Tuesday, August 29th. Williams Capital reaffirmed a “buy” rating and issued a $136.00 target price on shares of Cimarex Energy in a report on Wednesday, August 9th. BidaskClub lowered Cimarex Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Finally, Cowen and Company set a $135.00 target price on Cimarex Energy and gave the company a “buy” rating in a report on Friday, August 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $136.40.
In other Cimarex Energy news, SVP John Lambuth sold 2,136 shares of Cimarex Energy stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $99.84, for a total value of $213,258.24. Following the completion of the transaction, the senior vice president now owns 106,532 shares in the company, valued at approximately $10,636,154.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas E. Jorden sold 2,500 shares of Cimarex Energy stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $101.67, for a total value of $254,175.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,886 shares of company stock valued at $996,088. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank raised its position in Cimarex Energy by 25.5% in the 2nd quarter. Toronto Dominion Bank now owns 32,218 shares of the oil and gas producer’s stock valued at $3,028,000 after purchasing an additional 6,551 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Cimarex Energy by 4.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,070 shares of the oil and gas producer’s stock valued at $5,083,000 after purchasing an additional 2,202 shares during the last quarter. Colony Group LLC raised its position in Cimarex Energy by 7.1% in the 2nd quarter. Colony Group LLC now owns 15,977 shares of the oil and gas producer’s stock valued at $1,502,000 after purchasing an additional 1,058 shares during the last quarter. Verition Fund Management LLC raised its position in Cimarex Energy by 4.6% in the 2nd quarter. Verition Fund Management LLC now owns 7,949 shares of the oil and gas producer’s stock valued at $747,000 after purchasing an additional 349 shares during the last quarter. Finally, Kingfisher Capital LLC raised its position in Cimarex Energy by 3.1% in the 2nd quarter. Kingfisher Capital LLC now owns 11,778 shares of the oil and gas producer’s stock valued at $1,107,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.
Cimarex Energy (NYSE XEC) traded down 2.55% during trading on Friday, hitting $99.48. The stock had a trading volume of 1,138,571 shares. Cimarex Energy has a 52 week low of $89.49 and a 52 week high of $146.96. The firm has a market cap of $9.48 billion, a PE ratio of 38.71 and a beta of 1.32. The company’s 50-day moving average is $98.00 and its 200 day moving average is $108.12.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.32 annualized dividend and a yield of 0.32%. Cimarex Energy’s payout ratio is 12.03%.
Cimarex Energy Company Profile
Cimarex Energy Co is an independent oil and gas exploration and production company. The Company operates in exploration and production (E&P) segment. Its operations are located in Oklahoma, Texas and New Mexico. Its E&P activities take place primarily in two areas: the Permian Basin and the Mid-Continent region.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cimarex Energy Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cimarex Energy Co and related companies with MarketBeat.com's FREE daily email newsletter.